TEMCO
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TEMCO

[ANN] Token Swap Announcement (ERC-20 to KCT)

Dear TEMCO community,

As TEMCO onboards the Klaytn mainnet, TEMCO token migration has scheduled in Coinone.

Current ERC-20 TEMCO tokens will be converted to KCT TEMCO tokens on Klaytn mainnet to expand TEMCO’s blockchain ecosystem and for the mass adoption using Klaytn’s user base.

There will be no change to total number of TEMCO tokens issued, token economics and the current roadmap.

Summary

  • One ERC-20 TEMCO token swap to One KCT TEMCO token (1:1 ratio)
  • Coinone exchange will support TEMCO token swap
  • There is no change to total number of TEMCO token issued, token economics and development roadmap

How

  • Coinone token swap schedule

- ERC-20 TEMCO deposit/withdrawal suspension: September 20th, 2019 (19:00, UTC+9)

- KCT TEMCO swap date: September 21st 2019 (UTC+9)

  • If your TEMCO is within Coinone exchange

- TEMCO tokens will automatically swapped according to the quantity you have after the deposit and withdrawal has been suspended. (1:1 ratio)

- After the mainnet migration, the transfer address will be initialized and TEMCO tokens will be swapped to KCT-based.

- After migration, any transaction to other exchanges or wallets which do not support Klaytn’s mainnet is restricted and may not be recoverable.

  • If your TEMCO is in other exchanges or wallets

- Please transfer your TEMCO tokens to Coinone exchange before the deposit and withdrawal suspension date.

- After this TEMCO token swap, you can only deposit and withdraw KCT-based TEMCO Tokens from Coinone Exchange.

Notice

  • ERC-20 TEMCO can be deposited to or withdrawn from Coinone until September 20th.
  • ERC-20 TEMCO cannot be deposited to or withdrawn from Coinone after September 20th.
  • You can trade TEMCO token even after suspension of deposit and withdrawal.
  • Since the transfer address of the token is initialized after the mainnet migration, please make sure to create a new address.
  • After the mainnet migration, the token is not possible to recover if you transfer the token to the exchange that does not support Klayton mainnet. Since the address system of ERC20 and KCT are very similar, please be careful not to transfer tokens to the wrong address.

If you have additional questions about the token swap, please ask us on TEMCO’s official telegram channel.

Thank you for supporting TEMCO.

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